Bank of New York Mellon Corp cut its position in shares of Amedisys Inc (NASDAQ:AMED) by 24.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 702,183 shares of the health services provider’s stock after selling 230,137 shares during the quarter. Bank of New York Mellon Corp owned 2.21% of Amedisys worth $60,009,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in Amedisys during the second quarter worth $149,000. Moneta Group Investment Advisors LLC bought a new position in Amedisys during the second quarter worth $181,000. Cubist Systematic Strategies LLC lifted its stake in Amedisys by 1,086.0% during the second quarter. Cubist Systematic Strategies LLC now owns 2,372 shares of the health services provider’s stock worth $203,000 after purchasing an additional 2,172 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in Amedisys during the second quarter worth $217,000. Finally, IFG Advisory LLC bought a new position in Amedisys during the second quarter worth $221,000. Hedge funds and other institutional investors own 91.21% of the company’s stock.
Several brokerages recently issued reports on AMED. Craig Hallum cut Amedisys from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $116.00 to $104.00 in a research note on Friday, October 26th. Bank of America set a $139.00 price objective on Amedisys and gave the stock a “buy” rating in a research note on Tuesday, September 18th. ValuEngine upgraded Amedisys from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 30th. Canaccord Genuity began coverage on Amedisys in a research note on Thursday, September 13th. They set a “neutral” rating and a $117.00 price objective on the stock. Finally, Robert W. Baird raised their price objective on Amedisys from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, October 11th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $105.50.
Amedisys (NASDAQ:AMED) last posted its earnings results on Monday, October 29th. The health services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.18. The company had revenue of $417.34 million for the quarter, compared to analysts’ expectations of $411.05 million. Amedisys had a return on equity of 23.27% and a net margin of 5.39%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the business posted $0.56 earnings per share. As a group, analysts predict that Amedisys Inc will post 3.58 EPS for the current year.
In other Amedisys news, CFO Scott G. Ginn sold 7,640 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $117.41, for a total value of $897,012.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Paul North sold 2,264 shares of the firm’s stock in a transaction on Monday, November 12th. The shares were sold at an average price of $119.30, for a total value of $270,095.20. The disclosure for this sale can be found here. Insiders sold 33,694 shares of company stock worth $3,985,200 over the last quarter. 2.60% of the stock is currently owned by company insiders.
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Amedisys, Inc, together with its subsidiaries, provides healthcare services in the United States. It operates through three segments: Home Health, Hospice, and Personal Care. The Home Health segment offers a range of services in the homes of individuals for the recovery of patients from surgery, chronic disability, or terminal illness, as well as prevents avoidable hospital readmissions through its skilled nurses, physical and speech therapists, occupational therapists, and aides for its patients to complete their important personal tasks.
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